Net Asset Value(s)

Keystone Investment Trust Plc       
As at close of business on 16-April-2012        
NAV per Ordinary share (unaudited) with Debt at Par     
EXCLUDING undistributed current year revenue                1286.36p    
INCLUDING current year revenue                              1309.59p    
NAV per Ordinary share (unaudited) with Debt at Fair Value      
EXCLUDING undistributed current year revenue                1249.67p    
INCLUDING current year revenue                              1272.90p    
The NAV includes a provision for any performance fee applicable.        
---